On January 1, 2020, ABC Company issued 5,000 of its 12%, P1,000 face value bonds for P5,350,000 including accrued interest. The bonds are date October 1, 2020, mature on October 1, 2024 and pay interest annually on October 1. The bonds were issued through an underwriter to whom ABC paid bond issue cost of P80,000. On January 1, 2020, what should ABC report as bonds payable in its statement of financial position?
On January 1, 2020, ABC Company issued 5,000 of its 12%, P1,000 face value bonds for P5,350,000 including accrued interest. The bonds are date October 1, 2020, mature on October 1, 2024 and pay interest annually on October 1. The bonds were issued through an underwriter to whom ABC paid bond issue cost of P80,000. On January 1, 2020, what should ABC report as bonds payable in its statement of financial position?
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...
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4.1. On January 1, 2020, ABC Company issued 5,000 of its 12%, P1,000 face
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